Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

ENTR 310 Test 2 > TEST 2 > Flashcards

TEST 2 Flashcards

1
Q

Lego: Why did they almost go bankrupt?

A

Because they tried to shy away from the original brick model

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Lego: Why was their innovation story so unique?

A

Because they started out making wooden toys and then went into plastic bricks

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Corporate Startup: Innovation Thesis

A

Innovation must be part of and aligned with the overall strategic goals of the company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Innovation Thesis

A

Clearly sees a company’s view of the future and the strategic objectives of innovation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are the 4 platforms of innovation radar?

A

Offerings (What), Presence (Where), Customers (Who), Processes (How)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are the 10 types of innovation?

A

Profit Model, Network, Structure, Process, Product Performance, Product System, Service, Channel, Brand, Customer Engagement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is a Profit Model?

A

The way in which you make money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is Structure?

A

Alignment of your talent and assets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is Network?

A

Connections with others to create value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is Process?

A

Signature or superior methods for doing your work

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is Product Performance?

A

Distinguishing features and functionality

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is Service?

A

Support and enhancements that surround your offerings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is Product System?

A

Complementary products and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is Channel?

A

How your offerings are delivered to customers and users

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is a Brand?

A

Representation of your offerings and business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is Customer Engagement?

A

Distinctive interactions you foster

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What are the Seven Sources of Innovation?

A

Knowledge, Unexpected, Demography, Process Needs, Perception, Incongruities, Industry and Market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the three topics in Innovation Ambition Matrix?

A

Core, Adjacent, Transformational

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is Core Innovation?

A

Optimizing existing products for existing customers

20
Q

What is Adjacent Innovation?

A

Expanding from existing business into “new to the company” business

21
Q

What is Transformational Innovation?

A

Developing breakthroughs and inventing things for markets that don’t yet exist?

22
Q

What is an example of Transformational Innovation?

A

iTunes

23
Q

What is an example of Adjacent Innovation?

A

Swifter

24
Q

What is an example of Core Innovation?

A

100 Calories Packs

25
Q

What is the Golden Ratio?

A

70/20/10 vs 10/20/70

Higher share performance vs distribution of returns

26
Q

What is the purpose of managing your innovation portfolio?

A
  • Gives managers a framework for surveying all the initiatives the business has underway
  • Gives managers a way to discuss the right overall ambition for the company’s innovation portfolio
27
Q

What is open innovation?

A

Pulls innovation from both internal and external sources

28
Q

What is an example of open innovation concept?

A

Lego, NASA, P&G

29
Q

What is the Innovation Readiness Gap?

A

Framework allows companies to access their relative strength on 10 essential factors related to their processes and capabilities

30
Q

What is the PND evolution of the value chain in Garmin?

A
  • Shift from static maps to dynamic maps
  • Updates/ Expansion of satellite systems
31
Q

What are PND Industry challenges?

A

Falling Prices, Installation of dashboard systems, Smartphones with mapping capabilities

32
Q

What is the innovation talent wheel?

A

Illustrates the 10 key traits of effective innovation teams

33
Q

What are the innovation team characteristics?

A

Networking, Orchestrating, Motivating, Selling, Generating, Uncovering, Pioneering, Absorbing, Deciding, Tabulating

34
Q

What are the EBO Criteria?

A

Strategic alignment, Cross-IBM leverage, New source of customer value, $1B plus revenge potential, Market Leadership, Sustained Profit

35
Q

How many Horizons are in the Horizons of Growth Model?

A

3

36
Q

What is Horizon Model 1?

A

Existing Business Model: Process Innovation

37
Q

What is Horizon Model 2?

A

New Opportunities via Business Model Innovation

38
Q

What is Horizon Model 3?

A

New/Disruptive Business Model

39
Q

What kind of business plan is Horizon 1?

A

Known

40
Q

What kind of business plan is Horizon 2?

A

Partially known

41
Q

What kind of business plan is Horizon 3?

A

Unknown

42
Q

What was CNN+?

A

App that was launched as an add on of CNN

43
Q

What happened to CNN+?

A

When launched, it did not do as well as it hoped, newly merged Warner Brothers Discovery begins public trading

44
Q

What is the Discovery Driven Planning Process?

A

Precursor to Lean startup

45
Q

What are the 5 disciplines of the Discovery Driven Planning Process?

A
  1. Definition of success for the plan or initiative, including a “reverse” income statement
  2. Benchmarking against market and competitive parameters
  3. Specification of operational requirements
  4. Documentation of assumptions
  5. Specifications of key checkpoints
46
Q

How did Ford do their Structural Reorganization?

A

Completely changed, said legacy organization had been holding them back.

47
Q

What are some strategic considerations?

A

Timeline, Customer, Cost/Possible efficiencies, Brand Leverage

ENTR 310 Test 2 (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions